We were able to sell the $4 call on MFA that expires this coming Friday for $0.65.
And today, we can close it for $0.10.
Ordinarily, I would leave the position alone and hold until expiration.
But MFA reports this Thursday and we can capture 85% of the profit on the call that was sold.
My suggestion will be to close the short calls.
Here is how you do it.
Buy to Close June 19th - $4 call for $0.10.
Close the entire short call position. So, if you followed the alert, you would be buying back 10 calls.
Of course, this alert only applies if you sold the June $4 calls.
If you did sell the 10 calls, the cash profit is $550.
If the stock makes a run into earnings, I will suggest you sell more call options.
